Bitcoin at $64,154 Could Trigger $880M Short Squeeze, CoinGlass Data Shows

BitcoinWorld Bitcoin at $64,154 Could Trigger $880M Short Squeeze, CoinGlass Data Shows Bitcoin’s price action is approaching a critical threshold that could trigger a wave of forced selling in the derivatives market.

According to data from CoinGlass, a move above $64,154 would liquidate approximately $880.28 million in short positions across major centralized exchanges. Conversely, a drop below $62,345 would wipe out about $393.96 million in long positions.

Understanding Liquidation Clusters Liquidation occurs when a trader’s position is forcibly closed due to insufficient margin, often amplifying price moves.

The $64,154 level represents a significant cluster of short positions that could act as a magnet for price, as short squeezes often drive rapid upward movements.